At the end of 20X5, the total assets of Dole Corporation were $90,000 and total liabilities were $50,000. The company has been in business five years and has earned an average profit of $4,000 per year during the five years. Total cash dividends of $8,000 were declared and paid. What was the total amount received for the shares issued by the company?
A) $28,000
B) $30,000
C) $40,000
D) $46,000

Question

Quizplus · Accepted Answer

Calculation: ($90,000 - $50,000) - ($4,000 × 5 years) + $8,000 = $28,000.

At the End of 20X5, the Total Assets of Dole